The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
The EUR/JPY pair crashed in the short term, but the sell-off seems over. It's trading at 150.33 at the time of writing. After its strong growth, a short-term correction was natural. The Japanese Yen appreciated a little in the short term as the Yen Futures rebounded.
Tomorrow, the Japanese Unemployment Rate could drop to 2.7% from 2.8%, while Spanish Flash CPI is expected at 3.6%, far below the 4.1% growth in the previous reporting period. Furthermore, the Eurozone M3 Money Supply and Private Loans data could have an impact.
As you can see on the H1 chart, the price was almost to reach the 150.05 and median line (ml). These represent strong downside obstacles. It has found support on the weekly pivot point of 150.17 and now tries to come back higher.
In my opinion, as long as it stays above the median line (ml), the bias remains bullish. A larger downside movement could be activated by a valid breakdown below this dynamic support.
Testing and retesting the median line (ml) and 150.05, registering only false breakdowns below these levels should announce a new bullish momentum. This represents a new buying opportunity.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
